HW_1-m - ECO 305 HW 1 (Due Date: February 23th Thursday.)...

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ECO 305 HW 1 (Due Date: February 23 th Thursday.) Question 1 (25 Points) The following balance sheets record the wealth of an average citizen of a small country in 2001 and 2002. 2001 Assets Liabilities Capital $7000 Govn Debt $2000 Net Worth $??? Per Capita National Income and Product 2001 GDP $4000 Consumption $1000 Government Spending $1000 a) What was the per-capita gross investment in this country in 2001? b) Economists have estimated that %10 of capital depreciates each year. What was per-capita net investment in 2001? c) What was per-capita net domestic product? d) What was the value of the capital stock at the beginning of 2002? 2002 Assets Liabilities Capital $??? Govn Debt $??? Net Worth $???
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Question 2 (25 Points) Year Price of TV Price of Car Quantity of TV Quantity of Car 2000 $1000 $20.000 100 100 2001 $1200 $21.000 130 80 2002 $1400 $22.000 170 120 2003 $1600 $23.000 210 150 Take 2002 as the base year. Calculate for all the years a) Nominal GDP b) Real GDP c) Real Growth Rate
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This note was uploaded on 04/13/2010 for the course ECO 305 taught by Professor Kisina during the Spring '08 term at SUNY Stony Brook.

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HW_1-m - ECO 305 HW 1 (Due Date: February 23th Thursday.)...

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